Regenxbio expects to obtain royalty payments from Novartis for Zolgensma after it was approved by the FDA to treat patients with spinal muscular atrophy.
To date, Regenxbio has taken in about $190 million in payments for Zolgensma, with a lot more expected as the drug starts being sold on the market.
Regenxbio has a robust NAV technology platform and about 100 or more AAV vectors in its arsenal to target a host of different types of diseases.
The most promising treatment stemming from the biotech would be RGX-314 which is being developed to treat patients with wet age-related macular degeneration.
Regenxbio (RGNX) announced that a gene therapy developed based on its technology was approved by the FDA. This gene therapy product is known as Zolgensma, which Novartis (NVS) now owns after acquiring AveXis for $8.7 billion back in 2018. While Novartis does own Zolgensma, it will have to pay royalties to Regenxbio on net sales for it. That means Regenxbio can start earning revenue for one of its very first products. The company is in good shape because it has many other gene therapy programs in its pipeline. The most notable one would be RGX-314, which is being developed to treat patients with wet age-related macular degeneration.
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